The Securities and Exchange Commission’s (SEC) controversial climate disclosure rules have been essentially dead since last March, when the SEC voted to end its defense of the rules.

Nevertheless, the litigation around the rules continues in the Eighth Circuit Court of Appeals as a result of Democratic states like California intervening to defend the rules in place of the SEC. 

Last April, the Eight Circuit granted the intervenors’ motion to hold the litigation in abeyance and directed the SEC to file within 90 days [by July 23, 2025] a status report advising (1) whether the Commission intends to review or reconsider the rules at issue in this case, (2) if it has determined to take no action, whether it will adhere to the rules if petitions for review are denied, and (3) if not, why it will not review or reconsider the rules at this time.

The SEC filed its much anticipated status report yesterday. The report makes clear that the SEC does not intend to review or reconsider the rules at this time. However, the SEC declined to respond to the Court’s remaining questions regarding enforcement. Instead, the report asks the Court to “terminate the abeyance, continue considering the parties’ arguments, and exercise its jurisdiction to decide the case.”

“If the Court were to uphold the Rules in whole or in part, any reconsideration of them would be subject to Commission deliberation and vote of its members, and the Commission cannot prejudge that action,” the SEC noted in its filing. “A decision from this Court would inform the scope and need for such action, including providing insights as to the Commission’s jurisdiction and authority” and “preserve limited judicial, Commission, and public resources.”

Commissioner Crenshaw, who voted in favor of adopting the climate disclosure rules back in 2024, issued a statement yesterday in response to the SEC’s filing, criticizing the agency for failing to respond to the Court’s April request for information and “trying to take the easy way out.”

It will be interesting to see how the Court responds to the SEC’s filing and its request to proceed to a decision in the case. However, at least for now, it appears that resolution of this matter may be a long way off.